It seems that the CNY denominated chart (BTCCHINA or OKCOIN), is less bearish , at least regarding confirmation of the decline. Whereas the dollar pair has already triggered a downtrend signal in the daily chart , RMB pairs haven't yet, but they do have similar implications. Personally, I'm holding BTCUSD shorts, added already once and trailed my stop down, and now waiting and watching BTCCNY for confirmation of the downtrend here as well. Once this happens, we'll see a significant push down, which will be a good buy opportunity once we hit my target zone.

If you want to go short, you can enter a half position now, risking a rally to yesterday's high, or simply wait for a break down under 4057.76, which would instantly confirm the move down. I'd reccomend against it, since it would have reduced win/loss ratio, compared to entering here, so, either take the entry now, or wait for a good enough setup with a tighter stop.

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Comment:
Stuck at the mode here, once we break down the setup will confirmed in full.

Comment:

Trade active:
Got back in the short on the previous rally, after we retraced it slightly.
Stops at 4605.05 for now.